Almyra, Arkansas County, Arkansas Property Taxes
The median property tax rate in Almyra, AR is 0.62%, which is considerably lower than both the national median of 0.99% and the Arkansas state median of 0.84%. With the median home value in Almyra at $94,585, the typical annual property tax bill reaches $641, significantly below the national median of $2,690. Property taxes in Almyra are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Almyra's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Almyra or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Almyra, Arkansas County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$586
$544
Ownwell’s Almyra Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Almyra with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Almyra to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Almyra, Arkansas County, Arkansas
Property taxes in Almyra, Arkansas, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Almyra is 0.62%, lower than both the Arkansas state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Almyra set these rates annually, and they can vary significantly across different neighborhoods. Each year, Almyra estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Almyra's effective property tax rate to other counties in Arkansas and the national median. For comparison, the 72003 zip code has the highest median property tax rate of 0.62%, while the 72003 zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Almyra provides valuable insights into the varying tax landscape across Arkansas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Almyra Tax Rate
0.62%
Average Arkansas County Tax Rate
0.67%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Almyra, Arkansas County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72003 | 0.15% | 0.39% | 0.62% | 0.85% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Almyra, Arkansas County, Arkansas
In Almyra, Arkansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Arkansas County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Almyra, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Almyra helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Almyra are both $641.00, found in the 72003 zip code.
Property Tax Assessment Values Across Almyra, Arkansas County, Arkansas
Source: Ownwell
$34,750
$65,623
$96,495
Average Almyra Assessed Value
$94,585
Average Arkansas County Assessed Value
$70,958
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Almyra, Arkansas County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72003 | $10,825 | $45,021 | $94,585 | $194,508 | $349,752 |
Source: Ownwell
Property Tax Bills Across Almyra, Arkansas County, Arkansas
In Almyra, Arkansas, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Almyra is $94,585. Local tax authorities determine the assessed value and apply the county's tax rate to calculate the annual tax bill. Factors such as property improvements, market trends, and neighborhood changes can influence the assessed value. Homeowners in Almyra experience varying tax bills. At the 25th percentile, the tax bill is $223, while at the 75th percentile, it reaches $1,405. The 90th percentile sees a tax bill as high as $2,960. The highest median tax bill in the area is $641, which is consistent across the zip code 72003. These tax bills impact homeowners by affecting their overall housing costs and potentially their ability to afford their homes. Compared to the national median property tax rate of 0.99%, Almyra's property taxes can be relatively lower, providing some financial relief to its residents.
Average Almyra Tax Bill
$641
Average Arkansas County Tax Bill
$414
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Almyra, Arkansas County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72003 | $72 | $223 | $641 | $1,405 | $2,960 |
Source: Ownwell